Bain Capital, Smith Hill Lend $94M on Rebranded Tampa Hotel

A joint venture between Newbond Holdings and Apollo has landed a $94.36 million loan to refinance a rebranded hotel in Downtown Tampa, Fla, Commercial Observer has learned.

Bain Capital and Smith Hill Capital provided the loan Hotel Cala, a 281-key property that Newbond in partnership with investment funds managed by an affiliate of Apollo acquired in late 2022. The seven-story building, which was previously known as the Hotel Tampa Riverwalk, is undergoing renovations to rebrand it under the Curio Collection brand with new amenities snd upgraded meeting spaces. 

Newmark negotiated the debt with a team consisting of Jordan Roeschlaub, Nick Scribani, Ricky Braha, Tyler Dumon and Tate Keir.

Located at 200 North Ashley Drive along the 2.6-mile Tampa Riverwalk, Hotel Cala is situated a half a mile from the Tampa Convention Center and less than a mile from Benchmark International Arena, home of the National Hockey League’s Tampa Bay Lightning. 

Bain Capital, Smith Hill Capital, Newbond Holdings and Apollo did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com.